Research

Transactive Energy Strategy for Energy Trading of Proactive Distribution Company with Renewable Systems : A Robust/Stochastic Hybrid Technique

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Abstract

Given the unsuitability of the previous strategies in procuring affordable conditions for the proactive distribution company (PDISCO) participation in the power market interactions, this article benefits transactive energy advantages to manipulate an innovative model for addressing this challenge. The proposed model enables the PDISCO to undertake optimal energy exchanges for maximizing its profit while creating equality between power supply and demand in the renewable-based system. A robust/stochastic hybrid technique is developed considering the uneven changes’ pattern to properly model uncertainties in the studied system. In this process, probabilistic scrutinizing of whole elements of the sample space is done by applying the Latin Hyperbolic Sampling method, while the selection process of the elements with a high existence probability is completed using the fast forward selection method. Moreover, the system robustness is intended by exerting robust optimization. The demand response program is advanced by using the elasticity properties of the shiftable loads. The modified version of the IEEE 33-bus test system is intended for verifying the effectiveness of the developed model. The results demonstrated a 23.197% diminution in the profit while procuring an acceptable degree of robustness for the system as well as guaranteeing the reach of a certain profit by operating the PDISCO under the suggested model rather than the base one.